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Human Capital and the World Technology Frontier

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  • Jakob B. Madsen

    (Monash University)

Abstract

This paper examines the productivity growth effects of educational attainment and its interaction with the distance to the world technology frontier, which is the percentage distance to the country with the highest total factor productivity (TFP) (the United Kingdom or United States), while allowing for the endogeneity of educational attainment in some of the estimates. For this purpose, a new annual data set for educational attainment is constructed for 21 industrialized countries over the period from 1870 to 2009. The results show that changes in educational attainment and the interaction between education and the distance to the frontier, as predicted by Schumpeterian growth theory, have been influential for productivity growth over the past 140 years. © 2014 The President and Fellows of Harvard College and the Massachusetts Institute of Technology

Suggested Citation

  • Jakob B. Madsen, 2014. "Human Capital and the World Technology Frontier," The Review of Economics and Statistics, MIT Press, vol. 96(4), pages 676-692, October.
    • Handle: RePEc:tpr:restat:v:96:y:2014:i:4:p:676-692
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    File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/REST_a_00381
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    Keywords

    educational attainment; world technology frontier;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • I20 - Health, Education, and Welfare - - Education - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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